China to spend ¥ 2.5 trillion on renewable energy by 2020

Details

Published: 10 January 2017

As the world’s largest polluter, China’s newly announced strategy for the energy sector stands to reform its coal-heavy energy system. According to the strategy, announced on January 5th, 2017, by the country’s National Energy Administration, China will spend ¥ 2.5 trillion (roughly €334 billion) in the renewable energy sector between 2017 and 2020, contributing to the creation of over 13 million jobs. The strategy is intended to improve the air quality of the country’s main cities—with Beijing, Hong Kong, and others currently suffering from severe smog clouds that threaten the health of millions—estimated to reduce the consumption of coal in energy production, helping to raise the share of renewable energy to 15% of overall consumption by 2020.

While the environmental impact of the strategy is, as yet, unclear, the strategy will certainly serve to boost China’s renewable energy sector, financing the installation of new wind, hydro, solar, and nuclear power generation facilities as well as other related components of the renewable energy infrastructure. This increased spending will see even greater results as the cost of building large-scale solar plants has declined by as much as 40% since 2010, as it also encourages other investors to join in the investment boom.

Programs

A research project conducted by the Universities of Turku and Tampere which aims to form a new conceptual framework which will help shape the collective identity and common vision necessary to realize the future low-carbon and sustainability targets.

An action learning and research project conducted by Aalto University and the University of Tampere which aimed to form a better understanding of the architectural requirements for successful innovation projects.